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Budget Management That Counts: Recent Approaches to Budget and Fiscal Management in New Zealand - WP 01/24

Publication Details

  • Budget Management That Counts: Recent Approaches to Budget and Fiscal Management in New Zealand
  • Published: Dec 2001
  • Status: Current
  • Authors: Barnes, Angela; Leith, Steve
  • JEL Classification: E62; H61
  • Hard copy: Available in HTML and PDF formats only.
 

Budget Management That Counts: Recent Approaches to Budget and Fiscal Management in New Zealand

New Zealand Treasury Working Paper 01/24

Published: 2001

Authors: Angela Barnes and Steve Leith

Abstract

Budget management in New Zealand altered substantially with the implementation of the Public Finance Act 1989 and the Fiscal Responsibility Act 1994. The paper sets out the evolution of fiscal and budget management over the last ten years, in response to the fiscal policy and financial management framework. It focuses on the top-down management of spending aggregates and how this has evolved into the “fiscal provisions” framework. The paper concludes with an illustration of the challenges facing the provisions framework. Work is currently underway to consider the challenges that have arisen through its operation over the last five years. This paper is a companion paper to Treasury Working Paper 01/25 New Zealand’s Fiscal Policy Framework: Experience and Evolution by John Janssen.

Table of Contents

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Introduction

1 Fixed nominal baselines

2 Fiscal provisions

References

Annex 1: Operating provision principles

Annex 2: Extract from 2000 Budget Economic and Fiscal Update

Annex 3: Graph showing how the provisions influence the trend of the operating balance

twp01-24.pdf (115 KB) pp. 20

Disclaimer

The views expressed in this Working Paper are those of the author(s) and do not necessarily reflect the views of the Treasury. The paper is presented not as policy, but with a view to inform and stimulate wider debate.

 

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